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Cycle Counts

Cycle

Count

Observation

Probable Outlook

Cycle Clarity

Trend

Daily

Day 27

Range 24-28 Days – 1st Daily Cycle

Neutral

Green

Failed

Investor

Week 5

Range 22-26 Weeks

Bullish

Green

Failed

4Yr

Month 39

Range 48-52 Months

Bearish

Green

Failed

We have seen a fair amount of panic these past two days in the gold sector, but for gold itself, this has been an orderly and expected 1st Daily Cycle retracement. Looking at the chart below, the drop under the 10dma, over 3 to 5 sessions, is normal as gold retraces back towards the last breakout area.

The problem really is within the silver and miners charts, they are showing a full 100% retracement of the Cycle. If the more volatile miners are leading indicator, then of course this does not bode well for gold. But as this is the 1st DCL, I still believe that we’re probably seeing a flush of long positions before gold moves higher in the 2nd Daily Cycle.